NEWS
Careem launches Careem Pay payments platform in Egypt
The UAE is home to a large Egyptian expat population, making Egypt one of the top five recipients of remittances from the UAE. In recent years, the overall market size of remittance from the UAE to Egypt has been estimated at approximately USD 10 billion.
Mohammad El Saadi, VP of Careem Pay, commented:“ We are excited to expand our money transfer service to an important segment of the UAE population. Many Egyptian expats in the Emirates routinely send money home to support their families or manage their personal finances.”
Careem Pay, the payments platform within the Careem app, expands its remittance service to Egypt, allowing UAE residents to send money directly to bank accounts in Egypt quickly and at competitive rates.
Careem Pay facilitates money transfers to some of the largest remittance corridors in the world, including India, Pakistan, the UK, Europe, and the Philippines, providing a quick and simple way to support families, manage finances, or contribute to investments abroad.
The new corridor launch comes in time for a period when remittances typically see a spike as customers increase financial support to their families for charitable purposes and upcoming Eid celebrations.
Careem Pay’ s mission is to simplify financial services in the region through a comprehensive payments platform that offers seamless P2P and international transfers, bill payments, and other digital wallet services.
Careem is building the Everything App for the greater Middle East, making it easier than ever to move around, order food and groceries, manage payments, and more.
Econet Wireless Zimbabwe modernises network with Ericsson’ s 5G Core cloud-native network
Ericsson and Econet Wireless Zimbabwe, have signed an agreement for the introduction of 5G Core functions, the necessary ingredient for the deployment of 5G Standalone. This is an expansion of its core network capacity, and the introduction of Ericsson Cloud Core Exposure Server, CCES, Ericsson’ s cloud-native service exposure function, to its network.
As well as upgrading the Radio Access Network solutions provided by Ericsson, in 2023, Econet modernised its core network to Ericsson’ s cloud-native dual-mode 5G Core solution to support its 4G and 5G non-standalone, NSA deployment and expansion. Now, it is adding 5G Core cloud-native network functions, CNF which will enable it to introduce 5G SA on its network.
Econet’ s transition to 5G Core with Ericsson’ s dual-mode 5G Core solution will enhance scalability, operational efficiency, and support data traffic growth in Zimbabwe. Ericsson Cloud Core Exposure Server enables Econet to securely expose network capabilities via APIs, fostering collaborations, innovative use cases and revenue opportunities.
Roy Chimanikire, Deputy Chief Executive Officer at Econet Wireless Zimbabwe, says:“ Partnering with Ericsson on this agreement marks a significant milestone for Econet as we drive the telecommunications ecosystem transformation in the country. These capabilities pave the way for new services and revenue streams, driving growth for Econet and enhancing the digital experience of our customers.”
Alain Maupin, Vice President and Head of Ericsson Central and Eastern Africa at Ericsson Middle East and Africa, says:“ Our cutting-edge solutions will prepare the network for 5G Standalone and will provide next generation services that empower them to meet rising data demands while enabling scalable and secure network capabilities.”
14 INTELLIGENTCIO AFRICA www. intelligentcio. com